Boeing (NYSE:BA) Trading Down 1.1% After Analyst Downgrade

Shares of The Boeing Company (NYSE:BA) were down 1.1% on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $225.00 to $195.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Boeing traded as low as $151.03 and last traded at $151.24. Approximately 1,459,101 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 8,007,875 shares. The stock had previously closed at $152.89.

BA has been the topic of a number of other reports. Jefferies Financial Group cut their price objective on shares of Boeing from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. TD Cowen cut their price target on shares of Boeing from $230.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday. Stifel Nicolaus increased their price objective on shares of Boeing from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein cut their target price on Boeing from $222.00 to $207.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Finally, Susquehanna reaffirmed a “positive” rating and set a $230.00 price target on shares of Boeing in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC increased its holdings in Boeing by 0.4% in the 4th quarter. Chicago Partners Investment Group LLC now owns 14,941 shares of the aircraft producer’s stock worth $3,895,000 after acquiring an additional 56 shares in the last quarter. Madison Park Capital Advisors LLC increased its stake in shares of Boeing by 4.9% in the second quarter. Madison Park Capital Advisors LLC now owns 1,204 shares of the aircraft producer’s stock worth $219,000 after purchasing an additional 56 shares in the last quarter. Bridge Creek Capital Management LLC raised its position in shares of Boeing by 3.1% during the 1st quarter. Bridge Creek Capital Management LLC now owns 1,983 shares of the aircraft producer’s stock valued at $383,000 after purchasing an additional 60 shares during the period. Wealth Alliance Advisory Group LLC lifted its stake in shares of Boeing by 1.6% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 3,798 shares of the aircraft producer’s stock valued at $691,000 after buying an additional 60 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its stake in shares of Boeing by 4.2% during the 1st quarter. Angeles Wealth Management LLC now owns 1,524 shares of the aircraft producer’s stock valued at $294,000 after buying an additional 61 shares in the last quarter. 64.82% of the stock is owned by institutional investors.

Boeing Stock Performance

The firm’s fifty day moving average is $165.48 and its two-hundred day moving average is $175.19. The company has a market cap of $95.08 billion, a P/E ratio of -43.63 and a beta of 1.57.

Boeing (NYSE:BA) last released its quarterly earnings data on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The firm had revenue of $16.87 billion during the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.82) earnings per share. On average, equities research analysts expect that The Boeing Company will post -4.27 EPS for the current year.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.